Twilio
Twilio Inc. is a San Francisco-headquartered software company founded in 2008 by Jeff Lawson, Evan Cooke, and John Wolthuis, specializing in cloud-based communications platforms that offer application programming interfaces (APIs) for developers to embed programmable voice, messaging, video, email, and authentication services into custom applications.[1][2][3] The company pioneered the communications platform as a service (CPaaS) model, enabling scalable integration of real-time customer engagement tools without reliance on traditional telephony infrastructure.[3][4] Twilio went public on the New York Stock Exchange in June 2016 under the ticker TWLO, marking a significant milestone in its expansion to serve hundreds of thousands of global customers, including enterprises such as Airbnb, Uber, and Reddit.[5][6][7] Twilio has been repeatedly recognized as a leader in the CPaaS market by analyst firms, including the highest positioning for ability to execute in Gartner's 2025 Magic Quadrant.[4][8] However, the company has encountered security challenges, including a 2022 phishing attack compromising employee credentials and leading to unauthorized access to customer data for over 160 organizations, as well as a 2024 breach exposing 33 million phone numbers linked to its Authy two-factor authentication service.[9][10]Overview
Business Model and Core Offerings
Twilio operates a usage-based business model centered on delivering cloud communications infrastructure via application programming interfaces (APIs), enabling developers and enterprises to embed scalable voice, messaging, and video functionalities into their software applications. Revenue is primarily generated through pay-as-you-go pricing, where customers incur charges per discrete unit of consumption—such as $0.0075 per outbound SMS message or per-minute fees for voice calls—allowing costs to align directly with usage volume without upfront commitments.[11][12] This model supports rapid scalability, with messaging and voice services accounting for the majority of total revenue as of late 2024.[13] Subscription fees apply to select premium features or platforms, but the core pay-per-action structure facilitates low-barrier entry for developers prototyping solutions before enterprise expansion.[14] At its foundation, Twilio's core offerings comprise programmable communications APIs that abstract complex telecommunications protocols into simple, code-accessible tools. The Programmable Messaging API supports sending and receiving transactional SMS, MMS, RCS, WhatsApp, and other channel messages, with capabilities for delivery tracking, media handling, and global reach across 180+ countries via partnerships with over 1,500 tier-1 carriers.[15][16] Complementing this, the Programmable Voice API enables programmatic initiation, routing, recording, and modification of PSTN calls, conferences, and queues, often integrated into web or mobile apps for automated interactions like alerts or verifications.[17] Additional APIs extend to email delivery with high inbox placement rates (91.3% average) and video for real-time communication sessions.[12] Twilio augments these APIs with integrated platforms for enhanced customer engagement, including Twilio Segment for unifying customer data profiles in real-time and Twilio Flex, a cloud contact center solution customizable via APIs for omnichannel support.[3] AI-driven tools and data analytics are embedded to optimize interactions, such as predictive routing or sentiment analysis, fostering a shift from siloed communications to data-informed, personalized experiences.[12] This ecosystem targets a developer-led sales motion, where initial API adoption by individuals scales to organizational deployments, driving net revenue retention through expanding use cases.[18][19]Leadership and Organizational Structure
Twilio's chief executive officer is Khozema Shipchandler, appointed on January 8, 2024, following the resignation of co-founder Jeff Lawson.[20] Lawson, who co-founded the company in 2008 alongside Evan Cooke, had served as CEO since inception but stepped down amid scrutiny from activist investors seeking operational improvements and cost efficiencies.[21] Shipchandler, previously president of Twilio's communications business unit, brings over 25 years of experience in enterprise software and customer data platforms.[22] The senior executive team reports to Shipchandler and oversees key functional areas. Aidan Viggiano serves as chief financial officer, managing financial operations since joining in 2019.[3] Christy Lake acts as chief administrative officer, directing people operations and legal functions.[3] Thomas Wyatt leads as chief revenue officer, focusing on sales and customer engagement strategies.[3] Inbal Shani, chief product officer, heads research and development efforts.[3] Chris Koehler manages global marketing as chief marketing officer, while Ivy Grant, senior vice president of strategy and operations, coordinates cross-functional planning.[3] The board of directors, chaired by Jeff Epstein since January 2024, provides strategic oversight and includes independent members such as Charlie Bell (appointed March 2023), Donna Dubinsky, Jeff Immelt, Deval Patrick, Erika Rottenberg, Miyuki Suzuki, and Andy Stafman (appointed April 2024).[23][24] Shipchandler also serves on the board.[3] Committees include audit (chaired by Epstein), compensation, and governance structures aligned with public company standards.[25] Twilio's organizational structure emphasizes engineering and product development, with approximately 5,466 employees as of June 30, 2025.[26] Engineering constitutes the largest group, representing about 45% of staff and enabling rapid scaling through autonomous, customer-focused teams.[27] The company operates globally with functional divisions in revenue, product, marketing, and operations, supporting its API-driven communications platform.[28]History
Founding and Early Development (2008–2015)
Twilio was founded in 2008 by Jeff Lawson, Evan Cooke, and John Wolthuis, with initial operations in Seattle, Washington, and San Francisco, California. The company's origins stemmed from Lawson's experiences as chief technology officer at StubHub, where integrating voice and messaging functionalities into applications proved cumbersome due to fragmented telecommunications infrastructure; he envisioned a cloud-based API platform that would enable developers to embed programmable communications simply via code.[29][30] On November 20, 2008, Twilio launched its inaugural product, the Programmable Voice API, which allowed developers to make and receive phone calls hosted entirely in the cloud, bypassing traditional telephony complexities. This was followed approximately 18 months later by the Programmable Messaging API for SMS capabilities, addressing growing demand for text-based interactions in applications. By 2013, the platform expanded with the addition of MMS support and SIP trunking for connecting legacy systems to cloud services, enhancing reliability for business-critical uses.[31][32][33] Early funding supported product development and market expansion. Twilio secured seed capital, including an approximately $800,000 round led by Founders Fund and Mitch Kapor, followed by a $125,000 extension from Bessemer Venture Partners. In December 2009, it raised $3.7 million in Series A funding to bolster engineering, sales, and marketing. The Series B round of $12 million followed in November 2010, led by Bessemer Venture Partners with participation from Union Square Ventures and 500 Startups. Subsequent rounds included $17 million in Series C funding in December 2011 and $70 million in Series D in June 2013, culminating in a $130 million Series E in July 2015 led by Fidelity Investments and T. Rowe Price, with strategic investments from Amazon.com and Salesforce Ventures. These infusions enabled scaling infrastructure to handle increasing developer adoption.[34][35][36] By mid-2012, Twilio had surpassed 100,000 active developer accounts, reflecting rapid uptake among builders creating applications in web and mobile ecosystems, such as group messaging tools. The platform's pay-as-you-go pricing model, combined with API simplicity, drove organic growth without heavy reliance on traditional sales channels initially, though enterprise features were iteratively added to support larger deployments. This period established Twilio as a pioneer in cloud communications, prioritizing developer empowerment over carrier dependencies.[37][38]Initial Public Offering and Expansion (2016–2019)
Twilio Inc. completed its initial public offering on June 23, 2016, listing Class A common shares on the New York Stock Exchange under the ticker symbol TWLO at an initial price of $15 per share.[39] The shares opened trading at $23.99 and closed at $29.34, delivering a first-day gain of approximately 96% and raising about $150 million in gross proceeds before underwriting discounts.[40] This debut marked the first U.S. venture-backed technology IPO of 2016, occurring amid broader market volatility including Brexit uncertainties.[40] Following the IPO, Twilio reported robust revenue expansion driven by increasing adoption of its communication APIs among developers and enterprises. Fiscal year 2016 revenue reached $277.6 million, growing 44% year-over-year to $399.0 million in 2017.[41] By fiscal year 2019, revenue had surged to $1.13 billion, a 75% increase from 2018, reflecting strong demand for programmable voice, messaging, and emerging services like video.[42] The company's dollar-based net expansion rate, measuring revenue retention and growth from existing customers, averaged over 120% during this period, underscoring effective customer monetization amid scaling infrastructure investments.[43] Strategic acquisitions bolstered Twilio's platform diversification. In October 2018, Twilio announced its largest deal to date, an all-stock acquisition of SendGrid valued at approximately $3 billion in enterprise value, which closed on February 1, 2019, integrating email APIs to complement core SMS and voice capabilities.[44] This move targeted transactional and marketing email markets, adding over 400 employees and expanding Twilio's addressable market beyond traditional telephony. Meanwhile, the company's stock performance reflected investor confidence, with shares rising more than 400% from IPO levels by December 2018.[45] International revenue also grew significantly, comprising 16% of total revenue in 2016 and rising to higher proportions by 2017 through global API expansions.[46]Growth Challenges and Strategic Shifts (2020–2025)
During the COVID-19 pandemic in 2020, Twilio benefited from heightened demand for digital communication solutions, driving a stock surge of over 240% as remote work and virtual interactions accelerated adoption of its APIs.[47] However, as pandemic-related tailwinds faded by 2022, the company encountered decelerating revenue growth, with annual sales expansion averaging 11.6% over the subsequent three years, falling short of earlier hyper-growth expectations amid broader market shifts prioritizing profitability over expansion.[48] Additional pressures included persistent gross margin erosion, attributed to product mix changes and competitive dynamics in cloud communications, alongside investor scrutiny over sustainable scaling in a maturing market.[49] To address these challenges, Twilio initiated cost-discipline measures, including multiple workforce reductions. In September 2022, the company laid off approximately 11% of its employees—around 1,000 positions—to streamline operations and achieve profitability in 2023, incurring estimated restructuring charges of $70–90 million.[50] This was followed in February 2023 by further cuts affecting 17% of the workforce, or about 1,500 employees, as part of broader efforts to reduce overhead and refocus on core priorities like efficiency and customer retention.[51] Leadership transitioned amid these changes, with the CEO departing in January 2024 following cumulative layoffs and heightened investor demands for improved margins.[52] By 2025, these shifts yielded signs of stabilization, with organic revenue growth accelerating to 13% year-over-year in the second quarter and full-year guidance raised to 9–10%, reflecting improved execution in high-value segments like AI-integrated communications.[26] Twilio also reported progress toward consistent profitability, with non-GAAP operating income and positive free cash flow trends emerging over the prior five years, though challenges like intermittent negative market reactions to earnings persisted.[53][54] These adaptations underscored a pivot from aggressive acquisition-fueled expansion to operational rigor, enabling modest recovery in stock performance and valuation amid ongoing sector competition.[55]Products and Technology
Programmable Communication APIs
Twilio's Programmable Communication APIs form the foundational layer of its cloud communications platform, enabling developers to embed customizable voice, messaging, and video functionalities into software applications via RESTful web services and client SDKs. These APIs abstract the complexities of carrier networks, providing global reach to over 180 countries with pay-as-you-go pricing based on usage metrics such as per-message or per-minute charges. Developers interact with the APIs using HTTP requests to initiate actions like sending messages or establishing calls, often orchestrating behaviors through TwiML, Twilio's XML-based instruction set for defining communication flows.[56][12] The Programmable Voice API facilitates the creation of outbound and inbound phone calls entirely in the cloud, supporting features such as call recording, transcription, conferencing, and real-time modifications during active sessions. Applications can use the API to generate calls via POST requests to the Calls resource, specifying parameters like destination numbers and TwiML URLs for handling call logic, including interactive voice response (IVR) for digit collection or speech recognition. Additional capabilities include queue management for call centers and integration with SIP trunks for bridging traditional telephony systems, ensuring scalability for high-volume operations.[17][57] Programmable Messaging API handles the sending, receiving, and management of text-based communications, including SMS, MMS, and channel-specific messages via WhatsApp or RCS, all through a unified interface. It supports transactional use cases like alerts, verifications, and notifications, with built-in tools for phone number provisioning, delivery status tracking, compliance with regulations such as TCPA, and handling replies or media attachments. For instance, developers can create messaging services to route inbound messages and apply filters for opt-outs or spam prevention, achieving reliable global delivery with localized sender IDs.[15][58] The Programmable Video API enables the building of real-time video applications, including one-to-one calls, group conferences, and interactive broadcasts, managed server-side via REST endpoints for resources like Rooms and Participants. Key features encompass room creation with configurable modes (e.g., group small or large), participant tracking, media stream controls, and automated recordings with options for composition tracks or individual streams. Client-side SDKs for JavaScript, iOS, and Android handle local capture, rendering, and WebRTC-based peer connections, allowing customization for bandwidth adaptation and noise suppression.[59][60] These APIs integrate with Twilio's broader ecosystem, including AI enhancements for transcription and sentiment analysis, and support for omnichannel experiences through the Conversations API, which unifies messaging across modalities. Adoption has driven Twilio's revenue, with messaging and voice segments contributing significantly to usage-based growth amid expanding developer ecosystems.[61][12]Integrated Platforms and Tools
Twilio's integrated platforms extend its core APIs by combining communication capabilities with data management, automation, and user interfaces to enable comprehensive customer engagement solutions. These platforms allow developers and enterprises to deploy scalable, customizable tools without building from scratch, incorporating features like AI-driven workflows and real-time personalization. Key offerings include Twilio Flex for contact centers, Twilio Segment as a customer data platform, Twilio Engage for marketing orchestration, and Twilio Frontline for frontline employee interactions.[62][63] Twilio Flex is a programmable cloud contact center platform launched to support multichannel interactions, including voice, SMS, email, and video, with customizable agent interfaces and AI integrations for tasks like routing and sentiment analysis. It features a real-time data layer introduced in updates as of 2023, enabling dynamic personalization of sales and service experiences, and scales to handle high-volume operations without on-premises hardware. Businesses use Flex to integrate third-party tools such as customer data platforms and workflow automations, reducing setup time compared to traditional contact centers.[64][65][66] Twilio Segment serves as a customer data platform that collects, unifies, and activates first-party data from multiple sources to fuel personalized communications across channels. Acquired by Twilio in 2020 and integrated into its ecosystem, Segment supports real-time data syncing with APIs for segmentation and audience building, powering over 25,000 companies as of 2023. It emphasizes compliance with privacy regulations like GDPR through features such as data governance controls, distinguishing it from less structured analytics tools by prioritizing actionable, consented data flows.[67][62][68] Twilio Engage, built atop Segment and launched on October 20, 2021, functions as a growth automation platform for orchestrating omnichannel campaigns using real-time customer intent signals derived from behavioral data. It enables marketers to automate journeys with dynamic personalization, such as triggered emails or SMS based on live events, and updated in July 2025 to enhance signal processing for faster response times. Unlike static campaign tools, Engage leverages Twilio's communication APIs for execution, reporting higher engagement rates through context-aware delivery.[69][70][71] Twilio Frontline, introduced in private beta on September 30, 2020, equips non-technical frontline workers—such as sales or store staff—with mobile-first tools for customer messaging and relationship management via SMS, WhatsApp, and voice. It integrates CRM data and communication logs to facilitate context-rich conversations, supporting use cases like appointment scheduling or issue resolution without requiring custom coding. The platform's design focuses on embedding comms into existing workflows, with reported improvements in response times for enterprise teams handling high-interaction volumes.[72][62] These platforms interconnect via Twilio's unified architecture, allowing data from Segment to inform Flex routing or Engage campaigns, while builder tools like Twilio Studio provide low-code flows for custom integrations. Adoption has grown with enterprise demands for AI-enhanced engagement, though implementation requires API familiarity to optimize costs tied to usage-based pricing.[73]Open-Source Initiatives
Twilio develops and maintains open-source software development kits (SDKs) and helper libraries for integrating its communication APIs into applications across multiple programming languages, including Node.js, Python, PHP, Java, Go, Ruby, and C#. These repositories, hosted on GitHub under the twilio organization, facilitate programmatic access to services like SMS, voice calls, and video, with over 200 repositories collectively supporting developer adoption and customization.[74][75] Twilio Labs, an internal innovation group, hosts and contributes to a range of open-source projects aimed at enhancing developer experience and extending Twilio's ecosystem, with more than 100 repositories under its GitHub organization. Notable projects include the Serverless Toolkit for local development and deployment of Twilio Functions; the Twilio CLI, a Node.js-based command-line interface for managing Twilio resources; Flex Plugin Builder for customizing the Twilio Flex contact center platform; Guardrail, a code generation tool from OpenAPI specifications; SOCless, a serverless framework for security orchestration; and DX Automator for automating GitHub repository management. These initiatives emphasize community contributions, with explicit invitations for code, documentation, and bug fixes via GitHub pull requests, governed by a Contributor Covenant code of conduct.[76][77][78] An early example of Twilio's open-source efforts is OpenVBX, launched on June 15, 2010, as a web-based, PHP-powered phone system for businesses that leverages Twilio's APIs to enable features such as programmable call flows, voicemail, individual extensions, and plugin integrations for third-party services. The project, available on GitHub, supports self-hosting on standard web servers and includes drag-and-drop interface customization, though it requires a valid SSL certificate for HTTPS functionality with Twilio services.[79][80] Twilio further promotes open-source participation through educational resources, such as tutorials on contributing to projects via GitHub forking and pull requests, and internal events like hackathons that encourage API-based open-source experimentation. The company maintains separate GitHub organizations for professional services samples and community-driven tools, underscoring a structured approach to fostering external developer involvement while prioritizing verifiable contributions over unvetted inputs.[81][76]Acquisitions and Mergers
Major Acquisitions
Twilio's largest acquisition was SendGrid, a cloud-based email delivery service, completed on February 1, 2019, for approximately $3 billion in an all-stock transaction initially valued at $2 billion but adjusted due to stock price appreciation.[44] The deal aimed to expand Twilio's capabilities in transactional and marketing email communications, integrating SendGrid as a subsidiary to enhance customer engagement platforms.[44] In November 2020, Twilio acquired Segment, a customer data platform, for $3.2 billion in an all-stock deal announced in October 2020 and closed on November 2, 2020.[82] Segment's technology enabled unified data collection from multiple sources, supporting Twilio's strategy to build comprehensive customer intelligence tools for personalized communications.[82] Twilio further bolstered its messaging portfolio with the acquisition of Zipwhip, a provider of toll-free SMS services, announced on May 17, 2021, and completed on July 14, 2021, for $850 million in a mix of cash and stock.[83][84] Zipwhip's carrier partnerships and enterprise texting features were intended to accelerate Twilio's growth in business-to-consumer messaging channels.[83] Earlier acquisitions included Authy in February 2015, a two-factor authentication provider, to secure developer tools, though terms were undisclosed.[31] In 2018, Twilio purchased Ytica, a speech analytics firm, for an undisclosed amount to advance its Flex contact center platform.[85] These moves reflect Twilio's pattern of targeting complementary technologies in communications and data security, with total acquisitions reaching 11 by 2025, though smaller deals like Ionic Security for $30.2 million in May 2021 focused on niche data protection enhancements.[86]Integration Outcomes and Strategic Rationale
Twilio's acquisition of SendGrid in February 2019 for approximately $3 billion in stock aimed to expand its programmable communications platform by incorporating a leading email API service, thereby enhancing multichannel customer engagement capabilities.[44] The strategic rationale centered on combining SendGrid's email delivery infrastructure with Twilio's voice and messaging APIs to address growing demand for integrated digital communication tools, positioning Twilio as a comprehensive provider in a market projected to exceed $66 billion in addressable opportunity at the time.[87] Post-acquisition integration proceeded smoothly, with SendGrid operating as a subsidiary while its technology was embedded into Twilio's ecosystem, contributing to sustained revenue growth in email services without reported major disruptions.[44] The $3.2 billion all-stock acquisition of Segment in November 2020 sought to address data silos in customer interactions by adding a customer data platform (CDP) that unifies behavioral data across sources, enabling more personalized and timely engagement via Twilio's channels.[82] Strategically, this move shifted Twilio from a low-margin API provider toward a higher-value unified engagement platform, leveraging Segment's developer-centric tools to build intelligence into communications and compete in the burgeoning CDP market.[88] Integration outcomes included Segment functioning as a Twilio division, with gradual feature overlaps such as CDP enhancements feeding into Twilio's personalization capabilities, though full synergies required ongoing development of integrated tools.[89] In contrast, the July 2021 acquisition of Zipwhip for $850 million in cash and stock targeted bolstering Twilio's U.S. toll-free messaging segment, where Zipwhip held significant carrier partnerships and served enterprise SMS needs.[84] The rationale emphasized acquiring trusted messaging infrastructure to accelerate Twilio's messaging business unit amid rising demand for compliant business texting.[83] However, integration faltered, leading Twilio to announce the shutdown of Zipwhip's standalone service in November 2022, with full sunsetting by December 2023 after migrating customers to Twilio's core platform; this resulted in operational redundancies and potential customer attrition, highlighting challenges in absorbing specialized assets at a premium valuation.[90] Across these deals, Twilio's overarching strategy involved layering acquisitions onto its API foundation to construct an end-to-end customer engagement stack, prioritizing developer tools and data-driven personalization over siloed channel expansions.[88] While SendGrid and Segment yielded additive platform value, Zipwhip's discontinuation underscored risks of overpaying for niche capabilities that proved integrable but non-essential, contributing to broader scrutiny of Twilio's M&A efficiency amid profitability pressures.[90]Financial Performance
Revenue Growth and Profitability
Twilio's revenue expanded significantly following its 2016 initial public offering, driven by adoption of its communication APIs across industries, with annual growth rates surpassing 60% in 2017 and 2018.[91] By 2020, revenue reached $2.84 billion, reflecting a 61% year-over-year increase amid heightened demand for digital communications during the COVID-19 pandemic.[92] Growth accelerated further to 35% in 2021, yielding $3.83 billion, before decelerating to approximately 8% in 2022 ($3.83 billion to $4.15 billion) and sustaining low single-digit rates thereafter, with 2023 revenue at $4.154 billion (up 8.56%) and 2024 at $4.458 billion (up 7.32%).[91] This slowdown coincided with macroeconomic pressures, intensified competition, and internal restructuring efforts, including divestitures of non-core assets like Zipwhip in 2023 to streamline focus on high-margin segments.| Year | Revenue (in billions USD) | Year-over-Year Growth (%) | Net Income/Loss (in millions USD) |
|---|---|---|---|
| 2020 | 2.84 | 61 | (491) |
| 2021 | 3.83 | 35 | (950) |
| 2022 | 3.83 | 8 | (1,260) |
| 2023 | 4.154 | 8.56 | (1,015) |
| 2024 | 4.458 | 7.32 | (109) |
Stock Performance and Market Valuation
Twilio Inc. (NYSE: TWLO) completed its initial public offering on June 23, 2016, pricing shares at $15 each and closing the first trading day at approximately $27, a 92% increase that valued the company at over $4 billion on debut.[40][5] The stock benefited from robust post-IPO momentum, fueled by accelerating revenue from its cloud communications platform amid rising demand for programmable APIs, climbing to an all-time high closing price of $443.49 on February 18, 2021.[96] This peak reflected a market capitalization exceeding $70 billion at the time, with shares appreciating over 1,500% from the IPO price, though such gains were typical of high-growth tech stocks during the low-interest-rate environment preceding broader market shifts.[97] Post-2021, TWLO experienced a prolonged decline, dropping more than 85% from its peak by mid-2022 to lows around $60 per share, attributed to decelerating revenue growth—from over 50% year-over-year in 2020 to single digits by 2023—persistent GAAP net losses, rising interest rates pressuring growth valuations, and operational challenges including customer churn in non-core segments.[97][98] The stock's volatility persisted into 2023-2024, with intermittent recoveries tied to cost-cutting initiatives and divestitures, such as the sale of non-strategic assets, but shares remained below $100 for much of this period amid investor scrutiny over path to profitability.[99] By early 2025, TWLO had stabilized somewhat, posting year-to-date gains of approximately 4% through October, closing at $112.56 on October 24, 2025, following quarterly earnings beats like Q2 2025's $1.19 EPS surpassing estimates.[100][101] However, post-earnings reactions often highlighted concerns over thin margins and non-GAAP reliance, as seen in an 18% single-day drop after Q2 results despite revenue growth of 13% year-over-year to $1.23 billion.[102][26] As of October 2025, Twilio's market capitalization stood at approximately $17.3 billion, with an enterprise value of around $14.7 billion.[103][104] Valuation metrics reflected a more mature profile compared to peak years, trading at a trailing price-to-sales (P/S) ratio of about 3.4—down from historical averages exceeding 9—and an EV/revenue multiple of 3.1, based on trailing twelve-month revenue near $4.2 billion and 2025 full-year estimates of $4.94 billion.[105][104][99] The forward P/E ratio hovered at 20.2, incorporating expectations for improved earnings through efficiency measures, though trailing P/E remained elevated above 1,000 due to ongoing net losses.[104] These multiples positioned Twilio below many SaaS peers during growth phases but above profitable incumbents, signaling market bets on sustained organic revenue expansion of 9-10% for 2025 amid AI integrations and core segment focus.[26][106]| Key Stock Milestones | Closing Price | Market Cap (approx.) |
|---|---|---|
| IPO (June 23, 2016) | $27 (first day) | $4B+ |
| Peak (Feb 18, 2021) | $443.49 | $70B+ |
| 2022 Low | ~$60 | $10B |
| Oct 24, 2025 | $112.56 | $17.3B |